Tata Teleservices Maharashtra Ltd. reports EBITDA growth of 21.1% year on year

Tata Teleservices Maharashtra Ltd. (TTML) which provides CDMA, GSM and 3G voice and data services in Maharashtra and Mumbai circle, yesterday announced its unaudited financial results for the quarter ended 30th June 2015. The company continued its focus on profitability during the quarter resulting in a strong year on year EBITDA growth of 21.5% over the same quarter in the previous year. TTML’s EBITDA stood at Rs 219 crore for the quarter in review.

The Company showed a 4.5% year on year growth in total revenue at Rs 758 crore for the quarter ended 30th June 2015, compared to Rs 725 crore during the same quarter in the previous year. The revenue for the quarter is not fully comparable to previous periods as it has an impact of reduction of Interconnect Usage Charges on incoming traffic from 20p/min to 14p/min due to changes in TRAI Interconnect (IUC) regulations (Amendment XIth and XIIth) effective from 1st March 2015.

The Company continued to witness strong uptake of data services by its mobile users. TTML GSM Data revenue during the quarter grew more than 65% year on year and more than 10% quarter on quarter with an improvement in data realization. This has led to an improvement in data revenue contribution to GSM revenue by about 800 bps over Q1’FY15.

During the quarter, the Company also issued Unlisted, Unsecured, Rated, Redeemable, Non Convertible Debentures of Rs 750 crore. The proceeds are to be used, amongst other purposes, for capital expenditure, long term working capital requirements, refinancing of existing loans and other purposes in the normal course of business.

Continuing its focus on customer centricity the company has made investments to improve network coverage to ensure a better customer experience. The company has also recently launched a new service for its prepaid GSM customers, “Emergency Talk Time Service”. Tata Docomo customers who have completed at least 90 days on the network and have a talk time balance of less than Rs 5 can now avail of a credit.

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